The Federal Government has cut more than $100 million from Victoria's hospitals based on controversial population data.

The chief executive of Latrobe Regional Hospital, Peter Craighead, says he is considering extending the closure of one of the hospital's operating theatres during the holiday period.

"I'm somewhat surprised that a Government would be doing this in the lead-up to a federal election because there's one way to affect people is if people have their surgery cancelled, and people are clearly pointing their finger at budget cuts from a federal perspective, then I don't think people will necessarily forget that," he said.

Mr Craighead says it will be impossible for hospitals to achieve the Federal Government's targets for elective surgery waiting lists and emergency treatment.

"What we're saying is basically, well if the only way we can reduce costs is by not doing elective surgery or by closing beds then we're not going to be able to meet those targets," he said.

Ms Plibesek has urged Victoria's Health Department to use the extra millions of dollars it has in its pocket to refinance the state's hospitals.

"Because the funding hasn't grown as quickly as the Victorian Government wanted, they're now trying to get that money back from hospitals," she said.

"They've dumped this problem into the lap of local hospitals and it's very distressing for them.

"I also said to the hospitals there's a lot of extra funding that the Victorian Government could be using - an extra $280 million in GST money."

Victorian Treasurer Kim Wells says Ms Plibersek is shamelessly misleading the public about the funding cuts.

He says the amount of GST revenue received by Victoria since 2010 has fallen by $6 billion.